$(21$ points $-$ Fixed Payment Loan$)$ You are borrowing $$200,00010-$year loan to be paid back as fixed

payments annually. The interest rate is $6\%$ per year.

$($a$)(3$ points$)$ Write down the equation that would calculate the fixed$-$payment amount.

$($b$)(3$ points$)$ Use Excel formula to compute the fixed$-$payment amount. What is the formula used?

$($c$)(15$ points$)$ Construct the loan amortization table showing the amounts of fixed payment, interest paid,

principal paid, and remaining principal. Present your findings in table and graph. $($It is important that you

construct the table yourself to show the computation loop. Do not use the pre$-$made spreadsheet. Project $1$

will require you to construct a special case of this table.$)$